Hey Traders,
Eventhough I dont like the way the EURUSD long term charts are trading, there is a very clear range off the hourly chart... And as you already know, these ranges are among the easiest patterns to trade thoughout all markets...
So when the opportunitity arises, you need to take it...
It's a very short term range, a risk-reward ratio of about 1:1,...
I'm short since the GBPAUD broke through the previous lows... But I feel like I'm missing out and shoud increase the size of my trade...
So I'm definitely looking for more opportunities to short the heck out of the GBPAUD... Now, if you look at the shorter time frames (i.e. 1H) you'll see a clear range...
I'm setting a pending order on the break out of that...
Since the EURUAD got rejected from the top of the range (around 1.6329),it's being going down... And what I like the most about this is that we still have plenty of time before the market gets to the next long term support level...
Which means we get several opportunities to open our trade, and increse the size of it with newer signals...
So I'm looking to...
There are two important things on this chart:
1. It's got clear support and resistance levels
2. It's clearly being rejected from the support level
This leads us to think, it might continu its way up, at least until it hits the next resistance level around 0.4777
Once it gets there, we'll see how it reacts to that level...
Cheers,
When I'm looking for trade opportunities, the first thing that I look for is clarity.
This means that it's got clear S&R levels that I could is to my advantage.... Like what the EURJPY is doing right now, on the 4H charts, we've got clear support and resistance levels.
What is important here though, is the way the EURJPY is reacting to the support level. Looks...
Hey Traders,
I've always thought the simpler the better... A simple analysis could help you have a better of what the market is likely to do...
Like what the NZDCAD is doing right now... It's clearly trading between 0.8788 and 0.8656. Looks like its being already rejected from the top of the range, which means its likely to continue it's way down, until it hits...
These are my support & resistance levels for the XMLUSDT, I still think it will continue down to the main support level, and then we'll see a rejection off the bottom of the range...
Now, it's not like you have to open your trade once it hits the bottom of the range, you need to wait for the market to reacth off of that level... you need to see upward pressure...
Look my friends, you could draw or use thousands of lines, indicators, patterns, etc. But to me, the simpler the better...
Right now we have a very clear range on the medium term charts, looks like its currently being rejected from the bottom of the range, which means that it is more likely to continue its way up, until it hits the next resistance level......
